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Central Depository Services (India)

NSEI:CDSL
Snowflake Description

Flawless balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CDSL
NSEI
₹23B
Market Cap
  1. Home
  2. IN
  3. Diversified Financials
Company description

Central Depository Services (India) Limited operates as a securities depository in India. The last earnings update was 48 days ago. More info.


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CDSL Share Price and Events
7 Day Returns
-2%
NSEI:CDSL
-2.5%
IN Capital Markets
-2.7%
IN Market
1 Year Returns
-23.1%
NSEI:CDSL
-37.3%
IN Capital Markets
-1.8%
IN Market
CDSL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Central Depository Services (India) (CDSL) -2% -1.3% -2.7% -23.1% - -
IN Capital Markets -2.5% -11.8% -13.1% -37.3% 24.6% 37.9%
IN Market -2.7% -1.2% -0.9% -1.8% 30.5% 37.8%
1 Year Return vs Industry and Market
  • CDSL outperformed the Capital Markets industry which returned -37.3% over the past year.
  • CDSL underperformed the Market in India which returned -1.8% over the past year.
Price Volatility
Industry
5yr Volatility vs Market

Value

 Is Central Depository Services (India) undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Central Depository Services (India) to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Central Depository Services (India).

NSEI:CDSL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= ₹74.59 * 17.1%
₹12.74
Book Value of Equity per Share Weighted future Book Value estimates from 2 analysts. ₹74.59
Discount Rate (Cost of Equity) See below 14.4%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:CDSL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.69
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.695 (1 + (1- 35%) (0%))
0.795
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (0.8 * 8.6%)
14.43%

Discounted Cash Flow Calculation for NSEI:CDSL using Excess Returns Model Model

The calculations below outline how an intrinsic value for Central Depository Services (India) is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

NSEI:CDSL Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (17.1% – 14.43%) * ₹74.59)
₹1.98
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= ₹1.98 / (14.43% - 7.55%)
₹28.77
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= ₹74.59 + ₹28.77
₹103.36
NSEI:CDSL Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹103.36
Current discount Discount to share price of ₹220.55
= -1 x (₹220.55 - ₹103.36) / ₹103.36
-113.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Central Depository Services (India) is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Central Depository Services (India)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Central Depository Services (India)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:CDSL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹10.86
NSEI:CDSL Share Price ** NSEI (2019-06-20) in INR ₹220.55
India Capital Markets Industry PE Ratio Median Figure of 180 Publicly-Listed Capital Markets Companies 15.67x
India Market PE Ratio Median Figure of 2,823 Publicly-Listed Companies 15.6x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Central Depository Services (India).

NSEI:CDSL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:CDSL Share Price ÷ EPS (both in INR)

= 220.55 ÷ 10.86

20.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Central Depository Services (India) is overvalued based on earnings compared to the IN Capital Markets industry average.
  • Central Depository Services (India) is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Central Depository Services (India)'s expected growth come at a high price?
Raw Data
NSEI:CDSL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 20.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
8.9%per year
India Capital Markets Industry PEG Ratio Median Figure of 11 Publicly-Listed Capital Markets Companies 1.75x
India Market PEG Ratio Median Figure of 524 Publicly-Listed Companies 1.32x

*Line of best fit is calculated by linear regression .

NSEI:CDSL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 20.31x ÷ 8.9%

2.29x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Central Depository Services (India) is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Central Depository Services (India)'s assets?
Raw Data
NSEI:CDSL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹63.92
NSEI:CDSL Share Price * NSEI (2019-06-20) in INR ₹220.55
India Capital Markets Industry PB Ratio Median Figure of 268 Publicly-Listed Capital Markets Companies 0.61x
India Market PB Ratio Median Figure of 3,653 Publicly-Listed Companies 0.98x
NSEI:CDSL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:CDSL Share Price ÷ Book Value per Share (both in INR)

= 220.55 ÷ 63.92

3.45x

* Primary Listing of Central Depository Services (India).

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Central Depository Services (India) is overvalued based on assets compared to the IN Capital Markets industry average.
X
Value checks
We assess Central Depository Services (India)'s value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Central Depository Services (India) has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Central Depository Services (India) expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Central Depository Services (India) expected to grow at an attractive rate?
  • Central Depository Services (India)'s earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Central Depository Services (India)'s earnings growth is positive but not above the India market average.
  • Central Depository Services (India)'s revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:CDSL Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:CDSL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 8.9%
NSEI:CDSL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 0.8%
India Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 9.7%
India Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 12.8%
India Market Earnings Growth Rate Market Cap Weighted Average 16.7%
India Market Revenue Growth Rate Market Cap Weighted Average 9.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:CDSL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:CDSL Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 2,476 1,320 1,353 3
2020-03-31 2,202 1,186 1,206 3
NSEI:CDSL Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 2,438 1,135
2018-12-31 2,363 1,058
2018-09-30 2,314 1,030
2018-06-30 2,249 997
2018-03-31 2,248 793 1,032
2017-12-31 2,108 1,007
2017-09-30 2,009 956
2017-06-30 1,942 931
2017-03-31 1,860 427 858
2016-12-31 1,563 635
2016-09-30 1,580 740 879
2016-06-30 1,477 802

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Central Depository Services (India)'s earnings are expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
  • Central Depository Services (India)'s revenue is expected to grow by 0.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:CDSL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Central Depository Services (India) Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:CDSL Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 12.98 13.49 12.37 3.00
2020-03-31 11.62 11.88 11.46 3.00
NSEI:CDSL Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 10.86
2018-12-31 10.12
2018-09-30 9.85
2018-06-30 9.54
2018-03-31 9.87
2017-12-31 9.64
2017-09-30 9.15
2017-06-30 8.91
2017-03-31 8.21
2016-12-31 6.08
2016-09-30 8.41
2016-06-30 7.68

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Central Depository Services (India) is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Central Depository Services (India)'s future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Central Depository Services (India) has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Central Depository Services (India) performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Central Depository Services (India)'s growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Central Depository Services (India)'s year on year earnings growth rate has been positive over the past 5 years.
  • Central Depository Services (India)'s 1-year earnings growth is less than its 5-year average (10% vs 15.1%)
  • Central Depository Services (India)'s earnings growth has exceeded the IN Capital Markets industry average in the past year (10% vs -7.4%).
Earnings and Revenue History
Central Depository Services (India)'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Central Depository Services (India) Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:CDSL Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,438.46 1,135.15 458.26
2018-12-31 2,363.37 1,057.60 806.76
2018-09-30 2,313.80 1,030.30 794.97
2018-06-30 2,249.26 997.49 767.82
2018-03-31 2,248.03 1,031.78 757.51
2017-12-31 2,108.00 1,007.50 368.76
2017-09-30 2,009.11 956.17 359.57
2017-06-30 1,942.02 930.76 340.69
2017-03-31 1,859.75 857.83 650.64
2016-12-31 1,562.75 635.29 292.90
2016-09-30 1,580.10 878.81 277.61
2016-06-30 1,476.66 802.12 278.48
2016-03-31 1,602.80 909.99 273.09
2015-03-31 1,264.75 436.62 243.59
2014-03-31 1,225.80 487.88 239.56
2013-03-31 1,236.03 504.29 216.66

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Central Depository Services (India) has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Central Depository Services (India) used its assets more efficiently than the IN Capital Markets industry average last year based on Return on Assets.
  • Central Depository Services (India) has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Central Depository Services (India)'s performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Central Depository Services (India) has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Central Depository Services (India)'s financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Central Depository Services (India)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Central Depository Services (India) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Central Depository Services (India)'s cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Central Depository Services (India)'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Central Depository Services (India) has no debt, it does not need to be covered by short term assets.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Central Depository Services (India) Company Filings, last reported 2 months ago.

NSEI:CDSL Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 7,094.34 0.00 1,818.07
2018-12-31 6,466.57 0.00 2,298.23
2018-09-30 6,466.57 0.00 2,298.23
2018-06-30 6,147.01 0.00 1,841.13
2018-03-31 6,147.01 0.00 1,841.13
2017-12-31 5,630.42 0.00 2,494.22
2017-09-30 5,630.42 0.00 2,494.22
2017-06-30 5,488.08 0.00 2,781.87
2017-03-31 5,488.08 0.00 2,781.82
2016-12-31 5,052.29 0.00 4,116.01
2016-09-30 5,052.29 0.00 4,116.01
2016-06-30 4,261.78 0.00 2,726.04
2016-03-31 4,940.00 0.00 2,871.91
2015-03-31 3,837.07 0.00 2,431.45
2014-03-31 3,669.80 0.00 3,716.82
2013-03-31 3,408.83 0.00 3,515.61
  • Central Depository Services (India) has no debt.
  • Central Depository Services (India) has not taken on any debt in the past 5 years.
  • Central Depository Services (India) has no debt, it does not need to be covered by operating cash flow.
  • Central Depository Services (India) has no debt, therefore coverage of interest payments is not a concern.
X
Financial health checks
We assess Central Depository Services (India)'s financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Central Depository Services (India) has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Central Depository Services (India)'s current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.81%
Current annual income from Central Depository Services (India) dividends. Estimated to be 2.12% next year.
If you bought ₹2,000 of Central Depository Services (India) shares you are expected to receive ₹36 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Central Depository Services (India)'s pays a higher dividend yield than the bottom 25% of dividend payers in India (0.54%).
  • Central Depository Services (India)'s dividend is below the markets top 25% of dividend payers in India (2.08%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:CDSL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
India Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 61 Stocks 1.8%
India Market Average Dividend Yield Market Cap Weighted Average of 1450 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:CDSL Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 4.97 3.00
2020-03-31 4.38 3.00
NSEI:CDSL Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-03 4.000 1.769
2018-04-23 3.500 1.423

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • It is too early to tell whether Central Depository Services (India) has stable dividend payments.
  • Central Depository Services (India) only just started paying a dividend, it is too early to tell if payments are increasing.
Current Payout to shareholders
What portion of Central Depository Services (India)'s earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Central Depository Services (India)'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Central Depository Services (India) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Central Depository Services (India) has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Central Depository Services (India)'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
  • Central Depository Services (India) has no CEO, or we have no data on them.
Management Team Tenure

Average tenure of the Central Depository Services (India) management team in years:

1.8
Average Tenure
  • The average tenure for the Central Depository Services (India) management team is less than 2 years, this suggests a new team.
Management Team

Bharat Sheth

TITLE
Executive VP & CFO
COMPENSATION
₹7M

Joydeep Dutta

TITLE
Group CTO & Executive Director

Nayana Ovalekar

TITLE
Chief Operating Officer of Operations & Admission Cell
TENURE
1.8 yrs

Lalit Sharma

TITLE
VP of Legal
TENURE
0.7 yrs

Sunil Alvares

TITLE
Executive Vice President of New Projects
TENURE
1.8 yrs

K. Ramkumar

TITLE
Executive Vice President
TENURE
1.8 yrs

Farokh Patel

TITLE
Vice President of Audit

Gaurang Shah

TITLE
Vice President of Finance & Accounts
Board of Directors Tenure

Average tenure and age of the Central Depository Services (India) board of directors in years:

2.9
Average Tenure
64
Average Age
  • The average tenure for the Central Depository Services (India) board of directors is less than 3 years, this suggests a new board.
Board of Directors

Aravamudan Kumar

TITLE
Public Interest Director
COMPENSATION
₹1M
AGE
64
TENURE
2.9 yrs

Nayan Mehta

TITLE
Shareholder Director
COMPENSATION
₹780K
AGE
51
TENURE
2.6 yrs

Bontha Rao

TITLE
Public Interest Director
COMPENSATION
₹845K
AGE
64
TENURE
2.7 yrs

Nehal Vora

TITLE
Shareholder Director
COMPENSATION
₹210K
AGE
45
TENURE
3.9 yrs

Rajender Malla

TITLE
Public Interest Director
COMPENSATION
₹1M
AGE
65
TENURE
2.9 yrs

Usha Narayanan

TITLE
Non-Executive Independent Director
COMPENSATION
₹585K
AGE
66
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
29. Dec 18 Sell Bank of India, Asset Management Arm Company 28. Dec 18 28. Dec 18 -175,000 ₹220.82 ₹-38,644,214
28. Dec 18 Sell Bank of India, Asset Management Arm Company 26. Dec 18 27. Dec 18 -181,315 ₹221.78 ₹-40,212,628
26. Dec 18 Sell Bank of India, Asset Management Arm Company 21. Dec 18 24. Dec 18 -75,000 ₹227.26 ₹-17,044,346
21. Dec 18 Sell Bank of India, Asset Management Arm Company 20. Dec 18 20. Dec 18 -100,000 ₹234.29 ₹-23,429,277
20. Dec 18 Sell Bank of India, Asset Management Arm Company 19. Dec 18 19. Dec 18 -917,180 ₹218.44 ₹-200,351,515
19. Dec 18 Sell Bank of India, Asset Management Arm Company 17. Dec 18 17. Dec 18 -135,603 ₹221.01 ₹-29,969,040
19. Dec 18 Sell Bank of India, Asset Management Arm Company 18. Dec 18 18. Dec 18 -462,000 ₹217.59 ₹-100,526,841
17. Dec 18 Sell Bank of India, Asset Management Arm Company 14. Dec 18 14. Dec 18 -69,636 ₹222.55 ₹-15,497,730
13. Dec 18 Sell Bank of India, Asset Management Arm Company 12. Dec 18 12. Dec 18 -207,925 ₹224.03 ₹-46,581,786
13. Dec 18 Sell Bank of India, Asset Management Arm Company 07. Dec 18 13. Dec 18 -356,425 ₹230.14 ₹-79,816,793
06. Dec 18 Sell Bank of India, Asset Management Arm Company 04. Dec 18 06. Dec 18 -140,790 ₹235.49 ₹-32,643,684
04. Dec 18 Sell Bank of India, Asset Management Arm Company 03. Dec 18 03. Dec 18 -445,000 ₹236.38 ₹-105,187,471
30. Nov 18 Sell Bank of India, Asset Management Arm Company 12. Nov 18 30. Nov 18 -1,180,326 ₹236.43 ₹-278,121,374
X
Management checks
We assess Central Depository Services (India)'s management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Central Depository Services (India) has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

The Central Depository Services (India) (NSE:CDSL) Share Price Is Down 15% So Some Shareholders Are Getting Worried

That downside risk was realized by Central Depository Services (India) Limited (NSE:CDSL) shareholders over the last year, as the share price declined 15%. … During the unfortunate twelve months during which the Central Depository Services (India) share price fell, it actually saw its earnings per share (EPS) improve by 10.0%. … Before deciding if you like the current share price, check how Central Depository Services (India) scores on these 3 valuation metrics.

Simply Wall St -

These Factors Make Central Depository Services (India) Limited (NSE:CDSL) An Interesting Investment

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … In the case of Central Depository Services (India) Limited (NSE:CDSL), it is a company with great financial health as well as a a great track record of performance. … NSEI:CDSL Income Statement, May 15th 2019 Next Steps: For Central Depository Services (India), I've compiled three essential factors you should further research: Future Outlook: What are well-informed industry analysts predicting for CDSL’s future growth?

Simply Wall St -

Why Central Depository Services (India) Limited's (NSE:CDSL) High P/E Ratio Isn't Necessarily A Bad Thing

We'll show how you can use Central Depository Services (India) Limited's (NSE:CDSL) P/E ratio to inform your assessment of the investment opportunity. … Looking at earnings over the last twelve months, Central Depository Services (India) has a P/E ratio of 23.05. … How Do You Calculate Central Depository Services (India)'s P/E Ratio

Simply Wall St -

What Kind Of Shareholder Appears On The Central Depository Services (India) Limited's (NSE:CDSL) Shareholder Register?

A look at the shareholders of Central Depository Services (India) Limited (NSE:CDSL) can tell us which group is most powerful. … Generally speaking, as a company grows, institutions will increase their ownership. … With a market capitalization of ₹24b, Central Depository Services (India) is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

Does Central Depository Services (India) Limited's (NSE:CDSL) Recent Track Record Look Strong?

Today I will take a look at Central Depository Services (India) Limited's (NSE:CDSL) most recent earnings update (31 December 2018) and compare these latest figures against its performance over the past few years, as well as how the rest of the capital markets industry performed. … Were CDSL's earnings stronger than its past performances and the industry. … However, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 15%, indicating the rate at which CDSL is growing has slowed down.

Simply Wall St -

What Does Central Depository Services (India) Limited's (NSE:CDSL) P/E Ratio Tell You?

We'll look at Central Depository Services (India) Limited's (NSE:CDSL) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, Central Depository Services (India)'s P/E ratio is 23.62. … How Do I Calculate Central Depository Services (India)'s Price To Earnings Ratio

Simply Wall St -

Is It Too Late To Buy Central Depository Services (India) Limited (NSE:CDSL) At Its December Price?

Central Depository Services (India) Limited (NSE:CDSL) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of ₹231.45 is based on unrealistic expectations. … What can we expect from Central Depository Services (India) in the future. … Investors in Central Depository Services (India) have been patiently waiting for the uptick in earnings.

Simply Wall St -

Could Central Depository Services (India) Limited's (NSE:CDSL) Investor Composition Influence The Stock Price?

If you want to know who really controls Central Depository Services (India) Limited (NSE:CDSL), then you'll have to look at the makeup of its share registry. … Institutions will often hold stock in bigger companies, and we expect to see insiders owning a noticeable percentage of the smaller ones. … Central Depository Services (India) is a smaller company with a market capitalization of ₹24b, so it may still be flying under the radar of many institutional investors.

Simply Wall St -

Is Central Depository Services (India) Limited (NSE:CDSL) Attractive At Its Current PE Ratio?

Central Depository Services (India) Limited (NSE:CDSL) is trading with a trailing P/E of 25.1, which is higher than the industry average of 16.6. … While this might not seem positive, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … Check out our latest analysis for Central Depository Services (India)

Simply Wall St -

Have Investors Priced In Central Depository Services (India) Limited's (NSE:CDSL) Growth?

Growth expectations for Central Depository Services (India) Limited (NSE:CDSL) are high, but many investors are starting to ask whether its last close at ₹268.45 can still be rationalized by the future potential. … View our latest analysis for Central Depository Services (India)? … According to the analysts covering the company, the following few years should bring about good growth prospects for Central Depository Services (India)

Simply Wall St -

Company Info

Description

Central Depository Services (India) Limited operates as a securities depository in India. It offers various services, such as account opening, dematerialization, processing delivery and receipt instructions, account statement, re-materialization, pledging, nomination, transmission of securities, change in address, bank account details, and SMS services for depository participants. The company also offers facilities to issuers to credit securities to a shareholder's or applicants demat accounts; KYC services in respect of investors in capital markets to capital market intermediaries; and facilities to allow holding of insurance policies in electronic form to the holders of these insurance policies of various insurance companies. In addition, it provides other online services, such as e-voting, e-locker, national academy depository, electronic access to security information, electronic access to security information and execution of secured transaction, drafting and preparation of wills for succession, and mobile application and transactions using secured texting. It serves investors through intermediaries, such as depository participants, issuer companies, registrar and transfer agents, beneficial owners, and clearing members. The company was incorporated in 1997 and is based in Mumbai, India.

Details
Name: Central Depository Services (India) Limited
CDSL
Exchange: NSEI
Founded: 1997
₹22,916,850,000
104,500,000
Website: http://www.cdslindia.com
Address: Central Depository Services (India) Limited
Marathon Futurex,
25th floor, A-Wing,
Mumbai,
Maharashtra, 400013,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI CDSL Equity Shares National Stock Exchange of India IN INR 28. Jun 2017
Number of employees
Current staff
Staff numbers
191
Central Depository Services (India) employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/20 12:56
End of day share price update: 2019/06/20 00:00
Last estimates confirmation: 2019/05/09
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.